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by awesome_work_
4130 days ago
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I agree with mikeash, and wanted to just add my own personal experience. Most people I know, and what I also do personally, is buy a used car for less than $10k, and pay it off within 3 years. Then you live with it until it no longer becomes economically viable to keep it. So my wife and I own our cars at this point, which frees $400+ a month we can put towards something else with the understanding in 2-3 years we will need to budget for cars again. The basic cycle is 3 years of car debt, 3 years without. (I don't live in an area which has public transportation) |
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